The Strait of Hormuz remains a flashpoint as tensions escalate between the US and Iran. After US President Donald Trump extended a ceasefire, two container ships were attacked in the strait, with one attack attributed to Iran's Revolutionary Guard Corps. This comes as Iran's Supreme Leader Mojtaba Khamenei remains elusive, potentially complicating negotiations. The US has also boarded an Iranian oil tanker in the Indian Ocean, further ratcheting up tensions. Europe faces a challenging summer with potential fuel shortages and economic consequences. Meanwhile, China is positioning itself as a potential mediator, hosting meetings with African leaders and offering zero-tariff trade deals. The conflict's impact on the global food system and fertilizer supplies is also a growing concern, with experts warning of potential shortages and price hikes. The situation remains fluid, with military planners from over 30 nations gathering to discuss reopening the Strait of Hormuz and the US and France seeking to establish a coalition to support this effort.
